PROJECT REPORT IMPROVING HOUSE LOAN SERVICE AT BUYING APARTMENT SEGMENT OF BIDV HA TAY BRANCH

PROFESSTIONAL BACHELOR DEGREE IN BANKING – FINANCE - o0o - GROUP PROJECT REPORT IMPROVING HOUSE LOAN SERVICE AT BUYING APARTMENT SEGMENT OF BIDV HA TAY BRANCH UNIVERSITY TULOR Mr.Nguyen Hoang Group Luong Phan Ha Mr Vincent Dorange Mr Pham Tuan Anh Enterprise tutor Mr Phi Dinh Thi Pham Gia Truong An Dang Thi Tuyet Linh Ta Thanh Tam Dinh Thuy Trang -Ha Noi 2018 - ACKNOWLEDGE First of all, my team group sends our deep gratitude to the teachers of the International Education Faculty of Viet Nam Commercial University, those teach and give us valuable knowledge, experiences during the education Secondly, we express our gratitude particularly our tutor- Mr Pham Tuan Anh for spending time advising, supporting and guiding to complete this project report Thanks to the staffs at BIDV Ha Tay Branch, especially Mr Phi Dinh Thi – our manager for giving us a great opportunity to experience a real banking environment and broaden our vision of a future job Last but not least, we would like to thank Mr Vincent Dorange, for providing us good conditions to gain experiences and adjust information for the project CONTENT Introduction .1 I Introduction to BIDV Bank, BIDV Bank – Ha Tay Branch and our project .2 1.Introduction to Bank For Investment And Development Of Vietnam (BIDV Bank) and Ha Tay Branch 1.1Bank For Investment And Development Of Vietnam JSC ( BIDV Bank) .2 II Project implementation at BIDV Ha Tay Recommend practical solutions for the branch .15 Conclusion .23 Appendix 24 LIST OF TABLE Figure BIDV Bank’s history is summarized through the following memorable milestones: Figure : The organization structure of BIDV- Ha Tay Branch table 1: swot of bidv individual house loan product .7 Table Comparing house loan products among banks .7 Table The proportion of outstanding loans of individual customer at Ha Tay Branch8 Figure 3: The increasing trend of outstanding balance of house loan Figure The number of customers using house loan service in BIDV .10 Figure : Age groups of customers Figure : marriage situation 11 Figure : Occupation 11 Figure : The demand of customers in price of apartment 12 Figure : Some issues customer care when they buy apartment .13 Figure 10 : Budget sources 13 Figure 11 : The estimated payment each month Figure 12 : Loan period 14 Figure 13: Some channels that make customers know about BIDV product .14 Figure 14: Some factors in loan product that customers care .15 Figure 15: The limitations of BIDV 15 LIST OF FIGURE Figure BIDV Bank’s history is summarized through the following memorable milestones: Figure : The organization structure of BIDV- Ha Tay Branch table 1: swot of bidv individual house loan product .7 Table Comparing house loan products among banks .7 Table The proportion of outstanding loans of individual customer at Ha Tay Branch8 Figure 3: The increasing trend of outstanding balance of house loan Figure The number of customers using house loan service in BIDV .10 Figure : Age groups of customers Figure : marriage situation 11 Figure : Occupation 11 Figure : The demand of customers in price of apartment 12 Figure : Some issues customer care when they buy apartment .13 Figure 10 : Budget sources 13 Figure 11 : The estimated payment each month Figure 12 : Loan period 14 Figure 13: Some channels that make customers know about BIDV product .14 Figure 14: Some factors in loan product that customers care .15 Figure 15: The limitations of BIDV 15 INTRODUCTION Hanoi is not only political but also economic center of Vietnam In this area, the price of real estate is far more expensive than other areas while the average income level of people is still low As a result, having a private house is a far-away dream for a large number of families especially for young couples In this situation, banks play an important role as a solution to resolve the house demand of customer with some loan packages In recent years, a new trend has emerged in favor of apartment, which made estate market has become active again To keep up with this trend, some banks launched some competitive house loan products especially for individual clients In 2017, the real estate market has become hotter than ever Many modern buildings have been built at acceptable price with some incentives coming from investors and property development firms To compete with other banks, BIDV Ha Tay branch determined to focus on expanding the house loan product in this segment As a result, we decided to choose the topic “Improving the home loan service in apartment segment of BIDV Ha Tay branch in Ha Noi” as the subject of our dissertation I Introduction to BIDV Bank, BIDV Bank – Ha Tay Branch and our project 1.Introduction to Bank For Investment And Development Of Vietnam (BIDV Bank) and Ha Tay Branch 1.1Bank For Investment And Development Of Vietnam JSC ( BIDV Bank) Background Information : The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) was established on April 26, 1957 Through 60 years of operation, BIDV has become the biggest joint stock commercial bank in Vietnam with total asset more than million billion dong as of 2016 and housing over 256,400 employees Some milestones in the history of BIDV Figure BIDV Bank’s history is summarized through the following memorable milestones: With 60 years of operation, BIDV has become the largest commercial bank in Vietnam In the banking system of Vietnam, BIDV plays an important role in contributing to the growth of Vietnam in general, and setting the standards for other commercial banks in terms of operational capacity, risk control and operational efficiency BIDV’s strength lies include compared to other banks - the long-standing brand name, solid scale and quality of services As a result, BIDV always strives to improve its capacity and continually introduces new products and services to satisfy the rapidly changing demand of the market 2016 marked a difficult year for financial market However, BIDV quickly adapted to the new business environment and obtained successful business results in that year Some key financial statistics of BIDV are set out as follows: - As of 31 December 2016, BIDV's total assets reached 1.006.404 billion, the bank was continuing to be the leading commercial joint stock bank in Vietnam - With continual improvement, BIDV has won a number of impressive awards including “National Brand” (5 times in a row), “top 2000 largest and most powerful in the world” voted by Forbes Magazine 1.2 Introduction of BIDV Bank – Ha Tay Branch BIDV Ha Tay is a subsidiary of BIDV, formerly run by Ha Son Binh Investment and Development Department The branch was established on June 1, 1960 As of January 1995, this branch mainly operated in mobilizing short, medium and long term capital in Vietnam dong and Dollars to carry out lending activities in three types of term Over 57 years, BIDV Ha Tay has operated in accordance with the direction of the Board of Directors of BIDV as well as the guidelines, policies of the gorvernment, and make the safe target in business to meet the biggest request of clients on products and services at the lowest cost BIDV Ha Tay Branch is a relatively large branch compared with other commercial bank branches operating in Hanoi It is currently housing 167 staffs including director and deputy directors The organizational structure of the branch is as follows: - Board of Directors (4 persons) - Customer Relations Management (3 rooms) - Risk Management (1 room) - Operation (5 rooms) - Internal Management (2 rooms) - Subordinate (7 transaction point) The organizational structure of BIDV Ha Tay branch is shown in the following diagram: Figure : The organization structure of BIDV- Ha Tay Branch Overview of our project 2.1 Choice of project Housing loan services have become an increasingly important product for each Vietnam commercial bank As a result, they always find some solutions to improve this type of loan BIDV Ha Tay located in Ha Dong District, where have a high population rate Moreover, this area is chosen by investors to improve some house projects for people such as Xuan Mai, HUB3, etc So, expanding the house loan services to meet a demand of customers is indispensable for BIDV Ha Tay and some competitors In recent year, investors focus on apartment projects to help satisfy the growing demand for housing in urban areas To improve the house loan services, BIDV Ha Tay need to exploit a new market segment That is also the reason why my group selected the project: ‘Improving the house loan service at buying apartment segment in Ha Noi’ in BIDV Ha Tay branch, where this service still faces with some challenges 2.2 Organizing the project implementation 2.2.1 Objectives - To understand customers demand - To explore the demand of house loan service - To exploit a new potential market - To propose potential solution to improve house loan services 2.2.2 Introduction of group member * This table below sets some basic information of members in group 1: Last name LUONG PHAM DANG TA DINH First name PHAN HA (Leader) GIA TRUONG AN (Member) Phone/Email Tel: 0971878696 Email : Sep2093@gmail.com Tel: 0965335597 Email : antruongpham1010@gmail.com THI TUYET LINH (Member) THANH TAM (Member) THI THUY TRANG (Member) Tel: 0965156574 Email : Tuyetlinh.21197@gmail.com Tel: 0985545205 Email : Tathanhtam1997@gmail.com Tel : 0988833597 Email : dinhmia@gmail.com II Project implementation at BIDV Ha Tay Overview of BIDV house loan service for individual 1.1 Introduction of BIDV house loan service for individual • Overview of the product for individual customers Individual customers include people who reside or work frequently in the same area with the financing BIDV branch Product features : method - The loan amount is up to 70% ( especially, 100%) the house price The Loan period is up to 240 Months Various payment methods include monthly, quarterly, semi-annually, annually Interst rate usually fluctuates around 7-7.8% in the first year and 10.5 – 11% from the second year, which does not offer more incentives than other banks - Lending method applied is Partial method - The collateral is the unit which has certification of land use right Condition of the customers - The customers must be within the working age from over 20 to not over 60 when the loan expires - The customers have no bad debt of more than months at the bank and other credit organizations as of the time of the loan - The financial situation is good and have clear evidences of sound financial status - During the committed period, customers must have enough financial capability to take repayment of both the principle and interest - Customers must have enough equity capital, which related to the loan following the - Queston 4-8 : Focusing on the demand using home loan service to buy apartments - Question 9-11 : The opinion of customers about BIDV home loan products There are areas we focus on the research: Ha Dong, Thanh Xuan, Cau Giay, Nam Tu Liem and Dong Da District The consequence we received is 467 responses included 300 valid opinions and 167 invalid opinions During the analyzing process, we use to calculate the information and check the validty of response Figure : Age groups of customers Figure : marriage situation Unit : % We divided customers into age groups including under 25, from 25 to 35, from 36 to 45, from 46 to 55 According to the results of the survey, it is noticeable that the age group from 25 to 35 years old accounted for the biggest proportion than the other groups, with 48% of loan borrowers, while the under 25 stood at only 1% in this rate The proportion of those from 46 to 55 years of age occupied a second important figure with 36% The group from 36 to 45 just accounted for 15% of all During the interview process, we had a small talk with customers to gather more information So, in the age group 25-35, we saw that this age group was very important as they are financially independent They have jobs, actively save money for the future, and prepare to get married For the older group (46-55), they mainly spend money to invest in their children’s education As a result, they tend to save for the future by investing in houses According to the survey, 37% of the 300 customers are still single Figure : Occupation Unit : % 11 The results described some information about customers’ current occupation This type of information is necessary to evaluate the validity of response in our survey Officers or civil servants are major customers of our interview with 44% response Then, freelancers accounted for 36% We saw that the development of the internet brings more job opportunities with good salary for freelancers, especially relating to information technology like graphic design Followed by this, businessmen just occupied 15%, higher than workers (4%) and others (1%) Figure : The demand of customers in price of apartment Unit : % This chart shows the information about the demand of customer in the price of the apartment House price in Hanoi is very expensive So, we divided into choices, including 1-1,5 billion VND, 1,5-2 Billion VND, 2-2,5 Billion VND and above 2,5 billion VND We not make a choice for under billion VND because it is not suitable with a price at the moment Some information we collected show that the apartments which fall in the price of 900 million VND in Hanoi are very rare and difficult to look for Otherwise, having a lower price is the apartment segment, which is social building or built for the compensation for people due to land clearance for construction This type of apartments is usually very far from Hanoi center 64% of the results shows that customers were interested in the apartment having a price from to 1.5 billion They said that it was suitable price for them with the apartment, acreage from 60m2 to 70m2 23% of customers chose the choice of 1.5-2 billion VND, while 11% of them wanted a larger space with a price 2-2.5 billion and just 2% of the interviewed was satisfied with the price of above 2.5 billion VND 12 Figure : Some issues customer care when they buy apartment Unit : % This result shows some data about the issues that people care when they buy an apartment Contrary to our prediction, just only 16% of customers had the most concern about economic conditions In recent years, many banks offered more house loan packages which are competitive with a long time period and suitable interest rates As a result, they have a variety of choices and not much worry much about this issue The biggest concern of customers always focus on convenient location ( 47%) Following that, the environment issues accounted for 32%, greater than security issue (5%) Figure 10 : Budget sources Unit : % According to customers’ opinion about the buying apartment budget, the question that they can choose more answers We divided in choices, including Saving, Borrow from family and friends, borrow from banks In reality, they admitted that money to buy houses or apartment did not usually only come from source The income of each person must pay for living costs They can save money, but they must wait for a long time On the other hand, they were not sure that their family and their friends always have money to help them Finally, when borrowing from the bank, borrowers must have a certain amount of money because the bank never lends them with 100% value of the house Our survey result showed that the majority of customers chose an economical method (87%) and the most popular method is 13 borrowing from banks (92%) Borrowing from family and friends constituted a lower rate (62%) than the other methods Figure 11 : The estimated payment each month Figure 12 : Loan period Unit : % Through the responses we collected, the estimated money spent on bank loan each month fell in the range under 10 million ( 52%) and around from 10 to 20 billion VND (39%) 9% of customers agreed to pay around 20 to 30 million VND per month Moreover, almost all customers were interested in making a loan with a longer time period About the loan period, the results show that 54% of customers chose the choice above 20 years From 15-20 years was the second good choice, with 42% response, while from 5-10 years just represents an insignificant 6% Figure 13: Some channels that make customers know about BIDV product Unit : % The house loan product of BIDV is known through main channels, namely the media ( 31%) and Internet (38%) We saw that the reputation of BIDV is broadened by investment in advertisements on TV or banners while the confidence of customers comes from the data, information and policy that BIDV announced on the Internet and some reviews of economics professors, evaluation reports of some popular organizations Moreover, the success of BIDV plays an important role to increase their reputation However, the number of customers who have no idea about house loan product of BIDV accounted for 20% of all responses 14 Figure 14: Some factors in loan product that customers care Unit : % Among some factors which resulted in the customers’ interest in BIDV House loan product, it is noticeable that long term of loan is the most important factor (49%) Following that,the interest rate is the second factor that customers care about with 42% of all responses Figure 15: The limitations of BIDV Unit : % According to the results, the limitations of BIDV services are very clear Cumbersome procedure is the specific reason with 72% response Moreover, some opinions showed that the lending conditions are often harder than other banks However, nobody had opinions about the capacity of BIDV staff Recommend practical solutions for the branch According to the survey results, BIDV Ha Tay branch requires our group to propose some practical solutions which can improve the bank activities In our opinion, to improve housing loan services, we can develop in some ways: Improving relationship with the investors and the real estate enterprises In Hanoi, real estate market is very crowded while bank market is very competitive Some banks constantly offer some incentive programs to attract customers As a result, BIDV Ha Tay branch should expand and have a good relationship with investors The bank can create a special house loan product which is aimed at projects of real estate companies to help allure more customers This will not only reduce financial pressure of customers, but also increase the sales of apartments Individual financial management services There are types of interest rates that are currently applied in the bank: Fixed rate and 15 floating rate Some incentive programs of banks always apply the floating rate for the customer The risk of customer is that when the interest rate have a significant increase following the common market index, the money they must pay is higher which lead to the financial pressure they bear Because the floating rate needs the customer having a smart view about financial market attitudes, so in our opinion, the bank can build up the Individual Financial Management Service to support their customers about the house sales plan, estimating the market situation All of this can help the customer having the exact choice for themselves Marketing activities Plan 1: Traditional way – Leaflet Leaflet is a very popular way of advertising As a result, we proposed to make a feasible marketing plan in accordance with the survey results to improve BIDV’s leaflet: Targeted customers include officers and civil servants from 25 to 35 years old The apartment segment falls in the range from cheap to medium price The targeted locations include university campuses, hospitals, and companies in the Ha Dong, Thanh Xuan and Cau Giay Districts Time to conduct is within months Our goal: we set a relatively ambitious goal of obtaining above 100 customers using BIDV house loan program and making customer know about BIDV Estimated cost million VND per month for printing million VND for Supporting cost ( oil, meals ) Implementation : Attractive slogan“Share opportunities, cooperate successfully “ Colors: Red, Navy, White – specific color of BIDV Leaflet must be designed more colorful in A4 form with some incentives of programs and contact Staff must be trained about attitude when they communicate with customers Staff uniform should include red hat, white shirt and navy trousers We say NO with organizing reference or customer meeting because time is gold The focusing customers are officers, civil servants who always busy with 8-hours-job, so we not occupy their flexible time We determine that the information of house loan product will be sent to the customer, and they can research or exploit that through BIDV Customer Care service if they really want Recording result, each weak and writing report each month Plan 2: Cost optimization way - Through Bidv customer According to the information that BIDV Ha Tay has connected with some companies, hospitals, schools and universities to pay officer salary through the card in Ha Dong and Thanh Xuan District areas, we can see that there is a potential customers to improve housing loan service The customer default uses BIDV mobile service because of checking their income into account It is very convenient for BIDV Ha Tay to provide some information about incentives program and house loan product through the banking SMS system or sending 16 announcements to manager of organizations Moreover, this method brings more benefits Firstly, we can clearly see that the cost of advertising has significantly decreased No more fee for printing or support as leaflets, the information is updated quickly and exactly to the customer Moreover, BIDV Ha Tay can control and avoid bad debts through this method To become BIDV Ha Tay customers, people share a lot of information about themselves to the bank With a huge amount of data of customers, the bank can see clearly about customer‘s financial situations Followed by this, the loan appraisal process can be easily The reliable customer will be lent and the bank will decrease the concern about cannot withdraw loans Customer services Mobile app Vietnamese customers come to the bank to deposit and conduct the transactions However, personal financial advisory services are not popular with Vietnamese customers Following that, we have an opinion about the method to improve BIDV Ha Tay house loan service In recent years, BIDV established “BIDV online” – the mobile app which allows BIDV customers following their account situation and making a transaction Moreover, it can accurately show details of loan borrowers This app is very useful not only for users but also for bank tellers to take care of the customer However, this app has some limit Firstly, when users must pay monthly interest on a loan but may be they forgot it This app doesn’t show the notification to alert them As a result, in some situation,the teller must contact by phone to remind the customer In another hand, this app does not update any incentive programs Moreover, this app does not show detailed monthly interest payment schedule As a result, customer can not actively follow their loans Some users complained about this issue at BIDV Ha Tay branch In my opinion, the bank needs to update this function for app to improve the customer services: They can create the detailed monthly interest payment schedule system for app for people can actively follow their loans and avoid some late payment penalties On the other hand, the bank should take precautions in case of sudden occurrence For example, users who want to terminate the contract earlier than the specified term The bank can handle through app and have a plan to address this issue As a result, customer satisfaction will be enhanced III Accessing the project implementation at BIDV Ha Tay Discussion with BIDV Ha Tay branch In the discussion, we reported the success of the project : we totally completed some goals that were created by the supervisor We focused on the result of a report and presented some solutions for BIDV Ha Tay branch to improve their product According to the result of the report, the responses showed that the apartment demand is blooming and this figure will experience a significant increase trend in the near future The 17 potential customers include officers and civil servants who are customers of the cheap apartment segment As a result, BIDV Ha Tay branch should prioritize some policies and expand the connection with some investors to improve this segment and increase house loan market Through the survey, it is important that BIDV Ha Tay branch quickly improves some limitations in procedure and lending conditions The supervisor also agreed that the bank should focus much more on this segment This opinion will be recognized and discussed in internal references However, about the BIDV limitations, Mr Phi Dinh Thi explained to us in a different angle In recent years, bad debt was the biggest concern of Vietnam commercial banks in general because of the broken bubble in real estate in 2007 As a result, they must stop this bad figure BIDV was the priority bank to work entirely in loan conditions by careful appraisal process For example, in 2015, because of the problem in law of estate agents, BIDV had a temporary policy that the bank would stop providing house loan to customers whose collateral is a house that will be formed in the future (a house that doesn’t have red book which is also known as the certificate of land use right in Vietnam ) in the few months This action is to improve the control of this type of assets and avoid the increasing of bubble and bad debt while other banks continuously provided this service The bank determined that this is not regarded as a limitation, yet it is the shield to protect them from risks and improve the service quality Our supervisor also added some opinions about the solutions for BIDV Ha Tay branch Firstly, they did not agree with the leaflet solution The main reason is losing more time, and money, but achieving less effective results This form of activity was used in the past This method showed the effective consequence when the technology was not developed enough However, the time has changed and in the development of technology, this method is useless, and the bank does not agree to apply this However, the bank was very interested in the second solution which is the word-of-mouth method through BIDV Ha Tay customers This is a good method and the bank would consider to apply this solution in the next step of strategy in 2018 It applies not only in developing the apartment loan, but also for a credit loan service in general Finally, in terms of customer service solution, they agreed that the supporting customer apps are still unavailable, and it is necessary to develop such a system However, they admitted that this method exceeded the capability of this branch To resolve this issue, they must have authorization from BIDV headquarter There is still a long way to handle this issue At the end of discussion, our group was appreciated and thanked by our supervisor and other bank staff of BIDV Ha Tay branch for the contribution to improving the branch activities 18 Result assessment Period Task Objective From 5th to Meet the bank - Meeting the bank 25th and define the manager - Discussions with October,2017 issue managers and staff on BIDV Ha Tay branch operation From 25th Prepare for - Set up a suitable October, 2017 step the of timetable and plan for project each member - Evaluate the cost From 26th Research October to 7th project’s November, documents 2017 which happen during the project for - The data for Participants Expected result All members Set up the name of project report and set up objective to All members Make team work’s mental between partners All members Studying BIDV products overview and history of BIDV on the internet - Some documents about and relating to house loan’s situation at BIDV Ha Tay branch ( annual report,…) - Study the policy of the bank and the process of house loan service From 7th to Write 15th outline November, 2017 the - Set up the clear and All members suitable structure of the project From 16th Conduct the - Set up a November to customer questionnaire survey to 3rd December, survey collect customers 19 All members All members can know everything what they have done and some objectives in the future that they must follow to completely done the report Collect a survey result to comment and propose the 2017 opinion about the house loan service  Face to face way  Share on the From 5st to Data analysis 20st January,2018 From 20th to Review 23rd project January,2018 internet - Create the solution - Depend on solution All members collecting data, our group built the imagine structure of project in writing the - Gather group’s -Leader writing - Adjust if it is indispensable after the last discussion - Create the slide - Practiced oral presentation - Submit the project -All members Drafted project Finished the preparation before the oral presentation From 25st to Accomplish All members Complete the rd February the project final project report The project was carried out, followed by the outline set on the table This group project helps us practice and broaden what we have studied at school in real situations During the process of project implementation, we must admit that we have encountered a number of challenges However, we tried our best to create a valuable result In this part, we have included the summary of what we have done, the problems we have encountered, and knowledge and experiences that we have gained: From 5th to 25th October, 2017 Expected result : set up the name of project report – objective to We went to the bank branch to meet the manager After talking about our situation, we were accepted and had a permission to work in this bank branch as interns Then, we had a quick discussion with Mr Phan Dinh Thi – our direct supervisor of the internship Due to our lack of practical knowledge in the banking sector, the support of Mr Thi is exceptionally valuable Finally, we have chosen the project title under the recommendation of Mr Thi We have achieved the result as expected 20 From 25th October, 2017 Expected rerult: Making team works’ mental between members We had the first group discussion in Highlands Coffee Depending on each member time table group’ plan was created After hours of discussion, some members had some problems with daily activities, and some people didn’t agree with the group arrangement However, we tried to resolve and found a better plan with the satisfaction of all The money matter was passed easily After meeting, teamwork spirit was established From 26th October to 7th November, 2017 Expected result : Studying about BIDV and BIDV House loan product Data of BIDV Ha Tay Branch is very important and necessary with our group By researching from different sources and collecting valuable information, our team can obtain all necessary details of BIDV Ha Tay branch and complete the project Firstly, we did brief research on BIDV Ha Tay branch to get background information including system structure, history, and the product that we want to know Secondly, we found related financial reports of this branch It is clear that revenue from house loan service accounts for a large proportion of total revenues and it is indispensable with the development of this branch The first resource that we relied on to carry out the research is digging for information on the internet All members tried to collect useful data from magazines or newspaper having good reputation such as The investor real times (real estate magazine), or banking magazine, etc With respect to the second resource – collecting data through the support of the supervisor, we had some difficulties when we asked our manager to provide some primary data Because BIDV Ha Tay branch is a subsidiary, many importantly internal documents and policies cannot be publicized or announced as regulated by the headquarter of BIDV Through the discussion with our supervisor, we agreed to reserve some data for studying purpose only In this step, my group also learnt necessary skills, namely communication and researching From 7th to 15th November, 2017 Expected result: All members can know everything what they have done and some objectives in the future that they must follow to completely done the report After collecting all relevant statistics, we had a second group discussion in a café with the support of our supervisor, we finally agreed on a clear outline All members could then thoroughly understand what needed to be done in the next stage Finally, we adjusted the timetable to complete the project We achieved the result as expected without any conflicts From 16th November to 3rd December, 2017 Expected result: Collect a survey result to comment and propose the solution Following the purpose of the report, we must set up the questionnaire to study the demand of clients, which was mentioned in the overview of the apartment market segment It was a difficult task for us as we have never worked on making a questionnaire before After a meaningful discussion with our supervisor, we could finally make our first questionnaire Then, we went through a two-day training on customer communication skill With the 21 agreement of our supervisor, we were sent to Xuan Mai Spark Tower to carry out practical study It was the experience at Xuan Mai Spark Tower that we have gained knowledge of how to communicate effectively with customers Following that, we quickly conducted the questionnaire as soon as possible However, in the first time we had mistakes Firstly, some questions in the survey were not suitable to the customers Secondly, we spent too much time on interviewing customers (from 20 to 30 minutes) To handle this issue, we changed the questionnaire to include available answers We spent two days discussing internally with the presence of our supervisor to solve this problem The next day, each member got a target of interviewing from to 10 people per day with 15-20 minutes for each person During the communication process, we encountered some problems as some customers didn’t want to waste their time on us Also, some gave us wrong information, which made it very difficult for us to classify helpful answers in the next step Moreover, all the exams and other assignments at university and weather condition also made us tired during this time We thought that applying interview online by sending the questionnaire out on Facebook would be a good way With the mobile phone contact method, we did not receive any financial support from the bank so it would be impossible to carry out the above mentioned approaches As a result, we dedicated remove this activity Finally, we collected 467 responses in total In this step, there are skills we have gained which are time management skill, customer communication skill, and how to set up a questionnaire From 5st to 20st January,2018 Expected result : Drafted project This is the most difficult step of our group’s report Through some responses we collected, we must classify the information which is very complicated to analyze Topbank.vn is the popular website which is always updated quickly and exactly programs of all banks We use this tool to calculate some information people provided for us By using some information they answer about the price of the apartment they choose, budget that they spend for payment each month, loan period and the interest rate of the bank at the moment, we could estimate the responses are valid or invalid For example, the information about customer showed that : he/she wants to buy an apartment with a maximum price 2,5 billion VND with Money spent for payment each month is 20 million dong in the maximum loan period 10 years BIDV interest rate at the moment is 11.5% per annum As a result, we calculated that he/she must have available billion VND to achieve the bank agreed loan while he/she is the officer in the age 25-35 It means that the customer needs a longer time to accumulate enough budget condition to borrow from the bank In this situation, we did not accept this response During this analyzing process, we must try hard to finish quickly Following that, each member was assigned clearly to write part of the final report Once again, we faced with a big problem which is the command of English This type of mission accounted for a huge amount of time of our group Finally, the report was finished All members continuously fixed some issues in grammar and vocabulary to complete the final report 22 CONCLUSION Although we have face with a number of limitations, including capacity and time constraint, we finally completed the project and achieved all the objectives we set at the beginning The most significant success we achieved is our more understanding of house loan product, particularly house loan of BIDV Ha Tay branch through the implementation of the project Another objective which is not of less importance is the finalization of a questionnaire This is a valuable lesson for all team members Through these activities, we have a clearer picture of how banking operations are On the basis of the findings of the survey, we finally proposed some measures to improve the house loan product of BIDV Ha Tay branch Fortunately, these measures are well recognized by the branch During the process of project execution, we have encountered a number of problems and challenges However, our group tried our best to complete some tasks together Most importantly, this project allowed us to experience the work environment in practicality, which is also a good chance to broaden more knowledge and learn more useful skills We hope that in the future, we have more similar opportunities to learn and excel in a banking environment 23 APPENDIX Questionaire Dear customers We are students of Rouen University Now, we are conducting a project to know about the demand of buying apartment and your opinion about bank’s product This survey is very easy to fill it Please help us to complete this questionaire Thank you for spending time to response What is your age group ? under 25  25-35  36-45  46-55  are you marriage? Yes  No  What is your occupation ? Official, civil servants  freelancer  businessman  worker  others  You want to buy apartment in the price : 1-1.5 billion  1.5-2 billion  2-2.5 billion  above 2.5 billion  What is the most concern when you buy an apartment ? Suitable with income  Security  Culture environment  Convenient location  Where is your budget come from ? Saving  Family and close friend  Bank  How much money you/ your family spend to payment for loan each month ? Under 10 million  10-20 million  20-30 million  How about the loan terms you want to borrow ? 5-10 years  10-15 years  15-20 years  above 20 years  How you know about BIDV house loan services ? The media  24 Acquaintance  Banks’ staff  Internet  I have no idea  10 The most factor that make you care about BIDV house loan products : Interest rate  Procedures  Loan terms  Location  11 What is the limitations of BIDV services ? Cumbersome procedures  Loan conditions is higher than other banks  Loan product is limited  Limited in staffs’ attitude  REFERENCES www.BIDV.com.vn www.Vietcombank.com.vn www.vib.com.vn 25 ... the house loan services, BIDV Ha Tay need to exploit a new market segment That is also the reason why my group selected the project: Improving the house loan service at buying apartment segment. .. dinhmia@gmail.com II Project implementation at BIDV Ha Tay Overview of BIDV house loan service for individual 1.1 Introduction of BIDV house loan service for individual • Overview of the product for... understanding of house loan product, particularly house loan of BIDV Ha Tay branch through the implementation of the project Another objective which is not of less importance is the finalization of a